Co-working startup Industrious has raised $80 million in new funding led by Riverwood Capital and Fifth Wall Ventures.

Bottom line: Industrious and its investors aren't worried about competing with WeWork, despite the latter's global footprint and recent backing from SoftBank.

“The name of the game right now is growing the pie,” says Industrious co-founder and CEO Jamie Hodari, who adds that co-working offices still represent a tiny fraction of commercial real estate.

Additionally, Hodari describes WeWork as a mass product, while his company is providing a premium product for a different type of customers (though WeWork has also been signing up large tenants like Microsoft in the last couple of years). Examples of Industrious perks can include nursing rooms, fitness centers, and concierges.

“While billions of dollars of SoftBank money is extremely helpful, one thing that SoftBank doesn’t control is the assets themselves,” says Fifth Wall Ventures partner Brad Greiwe, whose firm’s investors include some of the largest real estate companies.

  • Other investors include Alrai, Outlook, Rabina Properties, Schechter Private Capital, and Wells Fargo Strategic Capital.

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Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan skepticism about the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 20,739,537 — Total deaths: 751,910— Total recoveries: 12,895,242Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 5,242,184 — Total deaths: 166,971 — Total recoveries: 1,755,225 — Total tests: 64,612,034Map.
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  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Fauci's guidance on pre-vaccine coronavirus treatments

Illustration: Aïda Amer/Axios

Antibody drugs and various medicine cocktails against the coronavirus are progressing and may provide some relief before vaccines.

The big picture: Everyone wants to know how and when they can return to "normal" life, as vaccines are not expected to be ready for most Americans for at least a year. Two therapies are known to be helpful, and more could be announced by late September, NIAID Director Anthony Fauci tells Axios.